Vijay Mallya is accused of non-payment of loans of about Rs 9,000 crore taken from several banks. The Debt Recovery Tribunal (DRT) then sold these shares on June 23.
Vijay Mallya
Rs 5,824.5 crore has been transferred to a consortium of banks led by State Bank of India, which gave loans to fugitive businessman Vijay Mallya. This information was given by the Enforcement Directorate (ED). The central probe agency said that this amount has been obtained by selling the seized shares of United Breweries Limited (UBL) under the Anti-Money Laundering Act.
Vijay Mallya is accused of non-payment of loans of about Rs 9,000 crore taken from several banks. These shares were sold by the Debt Recovery Tribunal (DRT) on June 23 after the Enforcement Directorate transferred UBL shares worth about Rs 6,624 crore to SBI-led banks. The ED had attached these shares under the Prevention of Money Laundering Act (PMLA).
Tweet information
The Enforcement Directorate tweeted, “Rs 5824.5 crore has been transferred to SBI led banks in their accounts today. This amount has been achieved by selling the shares of UBL. This sale was done on June 23, 2021.” Earlier, the ED had told that the remaining shares worth about Rs 800 crore are expected to be sold by June 25 to SBI-led banks.
Today, SBI led consortium received Rs 5824.5 Crore in its account from the sale of shares of United Breweries Limited. The sale had taken place on 23.06.2021 as sequel to the transfer of the shares to the Recovery Officer by ED. pic.twitter.com/g1HRs5g7kF
— ED (@dir_ed) June 25, 2021
40 percent loss compensation
The probe agency had earlier on Wednesday said that 40 per cent of the damages in the alleged fraud cases committed by fugitive businessmen Nirav Modi, Mehul Choksi and Mallya have been recovered. The ED and CBI are probing an alleged Rs 9,000-crore bank fraud against Mallya, who fled to the UK, in connection with his now defunct Kingfisher Airlines operations.
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